Change in Revenue Recognition Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. . Latest entry: FY2022.
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14 other companies' latest entry also says "Other".
- FY2022Full-year impact finalizedAnnual report
「Compared with the previous method, revenue decreased by ¥211.480 million, cost of sales by ¥165.597 million, and gross profit and operating profit by ¥45.882 million each during the consolidated fiscal year. There was no impact on ordinary profit or profit before income taxes and other adjustments, nor on the opening balance of retained earnings.」
The Company disclosed the full-year impact of applying the Revenue Recognition Accounting Standard as reductions of ¥211.480 million in revenue and ¥45.882 million in operating profit. - FY2022-Q3Cumulative impact updatedAnnual report
「As a result of applying this standard, compared with the previous accounting treatment, revenue decreased by ¥160.527 million, cost of sales by ¥126.387 million and operating profit by ¥34.140 million during the cumulative third-quarter period. There was no impact on ordinary profit or profit before income taxes and other adjustments.」
The cumulative third-quarter impact of applying the Revenue Recognition Accounting Standard was updated to reductions of ¥160.527 million in revenue, ¥126.387 million in cost of sales and ¥34.140 million in operating profit. - FY2022-Q2Cumulative impact updatedAnnual report
「As a result of applying this standard, compared with the previous accounting treatment, revenue decreased by ¥100.972 million, cost of sales by ¥79.713 million and operating profit by ¥21.258 million during the cumulative second-quarter period. There was no impact on ordinary profit or profit before income taxes and other adjustments, nor on the opening balance of retained earnings.」
The Company continued applying the Revenue Recognition Accounting Standard and disclosed the cumulative second-quarter impact as reductions of ¥100.972 million in revenue and ¥21.258 million in operating profit. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the "Revenue Recognition Accounting Standard") and related standards from the beginning of the first quarter of the current consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer. As a result, for certain transactions with specific customers in which the Company's role in sales to the customer qualifies it as an agent, the Company changed from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis, after deducting the amount paid to suppliers of the goods from the amount received from customers.」
The Revenue Recognition Accounting Standard and related standards were applied from 1 April 2021, and transactions with specific customers in which the Company acts as an agent changed from gross to net presentation. Revenue and cost of sales each decreased by ¥41.063 million, with no impact on operating profit or other profit measures.